Spring Market Shows Buoyancy
By Michael Ardolino, Broker-Owner, Realty Connect USA
Early May 2015
As a Newsday article recently noted, the housing market made good strides in March. This welcome news continued in April. Here are some factors to consider going forward:
- The latest news indicates that the Federal Reserve might increase rates in September or even later, not in June as had been expected. This should help spur sales for the short term.
- By this time next year, rates are expected to be up by a full percentage point, which would mean a significant decrease in purchasing power and home affordability.
Wise buyers and sellers know what to do…..
- A Special generational study has found that the largest group of recent home buyers is the millennial generation (age 18-34). A recent Merill Lynch study revealed that 81% of millennials view homeownership as an important part of the American Dream. Millennials are entering their peak buying period and will soon outnumber boomers. The impact on the market will be phenomenal.
We continue to look beyond the headlines to bring you emerging trends. Our local market is active and continuing to recover. Take advantage of these favorable conditions.
Please feel free to contact me @ 631-941-4300 or Michael@Ardolino.com.